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October 22, 2009 All Information Subject To Change Without Notice |
Greetings!
You may be receiving this for the first time, and if so, welcome. Your name was identified to us as having some involvement in the buying and selling of bank instruments, and we thought this information might be of interest to you. If it is not the case and we've missed the boat entirely, or we were in error, please Unsubscribe at the bottom, and accept our apologies.
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Fast Moving Opportunity
(AB102109)
Instrument : Bank Guarantee
Condition : Fully cash-backed
Currency : Euro
Issuer : Barclays Bank Plc
Contract amount : €2,500,000,000 (two billion five hundred million Euros) with possible rolls
and extensions
Denominations : €500,000,000 or as Agreed
Maturity : June, 2010
Invoice price : 73% (Seventy Three percent) or better of face value
Consultant Fees : 1% (one percent) of face value
Initial Tranche : €500,000,000
Purchase Format : Interbank screen/verify/block/download and pay via MT103
Mode of payment : MT 103 to Seller's bank within 4 international banking hours after download
Mode of delivery : Interbank block/download, no hard copy to follow
Screen : Interbank screen only (Euroclear/DTC/Reuters)
BUYER PURCHASING PROCEDURES:
1. Buyer submits this Purchase Order / Contractual Agreement with;
a. Banking Coordinates
b. Client Profile (CIS)
d. Non-Solicitation Declaration
e. Authorized Signatory's Passport Copy (Color)
2. Upon acceptance and execution of this Purchase Order/Contract, Seller issues a Corporate Invoice to Buyer via the Buyer's e-mail address: EMAIL ADDRESS. The Corporate Invoice shall include the necessary Interbank access codes and particulars, Letter of Authority, ISIN / CUSIP / Registration numbers, issue & maturity dates, denominations of the instruments, Seller's banking coordinates for receipt of payment and all other information required for authentication, validation and verification of the instrument(s) on Interbank screen before Buyer blocks and downloads the instrument(s).
3. Within two (2) international banking days of receipt of the Corporate Invoice(s), Buyer shall complete the download of the instrument(s) and payment to the Seller, or this contract shall be deemed non-binding to the Parties.
4. The Buyer will make immediate payment to Seller's bank co-ordinates provided in the Corporate Invoice via MT 103, or as agreed, within four (4) international banking hours of downloading the instrument(s).
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| PPP for $1 Million to $10 Million, or $10 Million to $100 Million.Now Available-- Expires End of Next Week...
FOR PRINCIPAL OWNERS OF THE MONEY-- NO INTERMEDIARIES, PLEASE.
A US Bank has a very short term PPP program that will accept a minimum of $1,000,000 US Dollars up to $10 Million (*money will have to be in the specific bank)
OR
The same US Bank will accept $10 Million to $100 Million in any public bank within the USA.
The program only requires the investor to block his funds for one day (potential 5 elapsed days total)
CRITICAL NOTE: We may only provide the information and documentation to the Principal Owner of the Money!!! If you are NOT the Owner of the Money, please do not respond.
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For The Principal Owner Of BG's and MTN's
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If you own paper and would entertain selling it, we invite you to email your model LOI with the instrument specifications. In the event someone is looking for something fitting the description, please include your desired procedures. The list of people potentially interested in speaking with you about your paper(s) is ever- growing. As an information exchange service, we put the Principal players together and stand aside. We deal only with the Principal or the Authorized Agent/Rep.
If you need to see some sample formats of documents that you would typically use-- again for informational purposes only- we have prepared a set that can be yours for downloading here.
If You Do NOT Yourself Own A Instrument, Please Do Not Reply To This! This is For Owner's Only. |
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Placing Cash, a Bank Guarantee, or MTN
Directly Into a PPP WITHOUT MOVING IT!
Each program manager has his or her own specific strategy. We are fortunate enough to be in touch with a number of them. Shoot us an email for more details. info@pccfunding.com
If you have assets other than cash to put into a program, you must send front and back copies of the instrument and proof of ownership along with a non-solicitation letter. OR, if you can get a SKR (Safe Keeping Receipt) from a major Top 25 European or Canadian Bank, that can be used as well. It must be a western European, Canadian or US bank. |
 Leased Instruments
Collateral for Credit Facilities
DESCRIPTION OF INSTRUMENTS:
1. Instrument: Bank Guarantee (BG)/SBLC, MTN etc
2. Total Face Value: Euro 5M MIN and Euro 50B MAX (Fifty Billion Euro/USD).
3. Issuing Bank: HSBC London, Barclays Bank London or AAA rated Bank in Western Europe or USA.
4. Age: One Year, One Day
5. Leasing Price: 6% of Face Value plus 2% commission fees to brokers to be shared 50/50 between the brokers on both Lessor/Lessee side
6... Delivery SWIFT TO SWIFT. PRE ADVICE FIRST
7. Payment: Wire Transfer./MT103/23
8. Hard Copy: Bonded Courier within 7 banking days...
Note that our Leased BG/SBLC is fresh Cut Cash Backed and will be issued in the LESSEE'S NAME. This Provider will not change his procedure, so be aware.
TRANSACTION PROCEDURE:
1. Lessee must read and accept this PROCEDURE very carefully in order to understand the content therein; especially in paragraph 2, 3 4 5 and 6. Only upon acceptance of this deed of agreement contract should Lessee enter into agreement with Lessor. On no account must Lessee sign these documents without accepting the terms and conditions as stated in the document. Lessor and Lessee execute, sign and initial this Deed of Agreement which thereby automatically becomes a full commercial recourse contract for 5yrs.
2.Within 3 days after both parties sign the Agreement and returned the agreement to Lessor , Lessor's then will issue on his full company letter headed a signed and stamped Corporate Refund Recourse Undertaking letter and an invoice to the Lessee guarantying to refund Lessee all the cost incurred by Lessee for the bank transmission charges /pre advice fee and . If the Lessor bank fail to deliver MT799/MT760/MT700 by swift as the Lessor and Lessee have agreed on the deed of agreement contract.
3. Within 3 working days after Lessee receives Lessor's signed and sealed Corporate Refund Recourse Undertaking and the invoice Lessee will make payment by wire transfer into the Lessor's bank account for the bank transmission charges/pre advice to trigger by swift the BG/SBLC MT799 MT760/MT700
4. For Lessor's bank to trigger MT799/ MT760/ MT700 via swift to Lessee's bank account, Lessee must pay for bank transmission charges fees/pre advice upfront. All bank transmission charges/pre advice fees are refundable upon returning of the instrument after expiration of one year and one day
5.Within Three (3) banking days after confirmation of receipt of payment of the bank transmission charges for the BG/SBLC MT799/MT760 MT700 swift in Lessor's bank account, Lessor bank auditors will Open a communication by swift to swift to Lessee bank confirm from Lessee bank if Lessee bank account is fit to receive MT760 by swift after confirmation of that, Lessor will instruct his bank to deliver the BG/SBLC via bank confirmation by swift BG/SBLC MT760/MT799 MT700 to the Lessee's bank account after Lessee confirmation.
6. Lessee will instruct his bank to make payment by wire transfer to Lessor bank account after Lessor confirm his money into his account then Lessor Will transfer brokers fee to brokers giving bank account, Lessor bank will deliver the hard copy of the BG/SBLC via bank bonded courier in Seven (7) banking days..Should Lessee default to pay the leasing fees to the Lessor and the brokers commission fees as agreed after 7 banking days of confirmation of SBLC MT760 in Lessee's bank account, Lessor will instruct the issuing bank to put a claim on the SBLC/BG thereby forcing the Lessee's bankers to return the BG/SBLC MT799/ MT760/ MT700 to the issuing Bank.
Once you agree and accept, and are RWA to perform, we can start closing next week.
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Waiting For ISIN's And CUSIP's Guarantee Failure To Buy |
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(this is a reprint from a prior issue)
ATTENTION BUYERS!
Over the last weeks, many buyers have requested or insisted on seeing information on specific instruments before they will make their interest known.
This flawed approach to buying FAILS NEARLY EVERY TIME! Why?
Since analogies are a great way to illustrate a point, imagine that you want to ride the train (i.e.- buy an instrument).
All day long, trains keep coming and going (instruments for sale), and they are ridden (i.e.- bought), by other riders who have already presented their tickets (i.e.-been accepted as a bonafide buyer by the seller), from the ticketmaster (the trade platform manager).
The reason so many deals never make it is because you cannot wait for a train to come into the station before you decide if you want to ride it!
You first have to buy a ticket (present your LOI, CIS, Passport, LOA, etc) so the ticketmaster (the seller) can OK you to climb aboard the next train.
Once you have bought your 'ticket', you are now entitled to stand on the platform waiting for the next train (instrument) that is the right one to jump on (take down).
The trains are always coming and going, but the ticketmaster won't allow you to board an oncoming train until you have been cleared and shown your capacity to buy.
When you ask to see a specific instrument's identification, you are asking about a train that is already in the station and is in the midst of being boarded (taken down) by another buyer.
Too late! You have to be timed so that the seller has your ticket BEFORE the next train comes down the track.
Also, when the buyer wants to see ISIN and CUSIP numbers, they are again asking about a train that is about to leave the station.
If you know you are going to ride the train, get your ticket (documents) punched so you can jump on the next train coming. Be prepared.
When the train has pulled into the station, you don't have time to first get your ticket and get on board. That's why you may have found that paper you were interested in has been sold out from under you.
Timing is everything, and being on the platform when the train comes in is the only way to buy your paper. |
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How We Work
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Rules Of Engagement |
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FIRST RULE:
NO PHONE CALLS!!!
EMAIL IS THE BEST WAY TO START A CONVERSATION!
SECOND RULE:
NO BROKERS OR INTERMEDIARIES WHO ARE NOT DIRECT! NO CHAINS WHATSOEVER!
If The Person You Are Talking To CANNOT WRITE A CHECK OR SIGN A CONTRACT.... Please Do NOT Waste Time.
Unfortunately, it seems to be a regular occurrence where people claim to have the ability to deliver a product and truly don't... most of the time due to their misrepresentation, some of the time due to circumstances beyond their control.
In order to effectively put a Principal buyer together with a specific opportunity, we ask each buyer to complete the downloadable request form-a "wish list" if you will, for each of the paper they are looking for.
The more specific the description of the instrument the buyer wants, the closer we can come to finding them what they are looking for. Otherwise, it's like walking into a grocery store filled with thousands of items and asking someone to 'show me what you got'. Waste of Time.
As buyers and sellers come together, they can be directed to each other when there is a fit that is close, or exact. If you know where you are going, getting there is a lot easier.
For legal reasons as mentioned above, paper sellers want to see the Buyer prepare either a Letter of Request or an LOI.
Some Buyers ask that the Seller provides some kind of letter or ISIN or CUSIP numbers. What they don't realize by asking that is they ask the Seller to SOLICIT an offer. Until a Seller has cleared the Buyer and his/her money, and provided a non-solicitation statement, the Seller can be looking at fines or jail time.
The Sellers are very cautious about this, even if the particular instrument is not subject to Solicitation rules. They tend to err on the side of caution.
This opens the door for a conversation once the seller has had a chance to look over the buyer's request and do a quick due diligence check. It helps even more if a Non-Solicitation Letter or clause is included to better ensure compliance.
Because the owner of an instrument is prohibited by law from soliciting, or appearing to solicit, someone to buy their paper, all initial interest in it must FIRST start from the buyer.
The seller cannot send out a LOI or other documents without first having been approached by the buyer prospect.
So many buyers want to see the seller's LOI first, they don't realize they are actually asking for the seller to break the law!
This is many times the reason a buyer is unsuccessful.
Without even knowing it, they have demonstrated a lack of understanding of the manner in which a transaction is facilitated, and sent that message to the seller, who naturally will decline any reply or response.
The role that I play is to facilitate the information about a buyer to an owner or seller of the paper desired, which helps overcome the issue of putting the seller at legal risk for being seen as soliciting.
If I am not acting as the principal in the deal, simply providing the opportunity for a meeting of the minds with a buyer/seller is much like posting a "Want to Buy" notice, and having that delivered personally directly to a possible opportunity.
As of last week, I am DIRECT to several platforms managers and owners as well as certain banks. I am connected generally either to the provider's representative, or rarely no more than 1 away.
In the case where other intermediaries might be involved in bringing the end buyer to the table, they must stand back immediately and allow for direct conversations to be facilitated with the buyer principal. However, if there is a chain of more than one broker between the Principal and you, we will most likely not be interested in discussing it.
Group conference calls and broker interference in any way automatically kill the deal. If there is no one on the phone who can sign a contract or write a check, there is no reason to talk.
Compensation is generally broken into two categories: Full Share and Referral Group.
A Full Share of a box may be shared by those who are doing the heavy lifting in a deal, versus those would be considered a Referral Fee recipient-making a phone call or email to introduce the parties is not an entitlement to a full share of a box. |
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Outlook and Opportunities
In no way are these a solicitation to sell. They are provided as information only. We are not responsible for the accuracy of information should it later be discovered to be incorrect.
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NON-RECOURSE LOANS
AGAINST PAPER
(MINIMUM 150MM)
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THE LOAN TO VALUE IS 23% OF INSTRUMENT FACE VALUE NET.
SUBSEQUENT ENHANCEMANT ARRANGED AT REQUEST OF BENEFICIARY.
THE BEST WAY FORWARD IS TO SEND TO ME A GOOD COPY OF THE INSTRUMENT FOR CHECKING, AND WE WILL PROCEED FROM THERE.
WHEN VALIDATED AND VERIFIED, AN AGREEMENT IS PREPARED FOR SIGNATURE.
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BG's/MTN
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Fresh Cut. Slightly Seasoned. Seasoned. Or for those who know the real terminology-- New Issue, or Issued.
How to get started? Send an email with your staus as a Principal Buyer, or legal, papered representative status. We can only respond to these two positions in the buying chain for this opportunity.
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Private Placements
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There are several providers of Private Placement Programs that we are working with. Some will even accept hard assets (like the offer above for Gold); and some will accept certain types of in-ground assets with certain criteria.
If you have assets other than cash to put into a program, you must send front and back copies of the instrument and proof of ownership along with a non-solicitation letter. OR, if you can get a SKR (Safe Keeping Receipt) from a major Top 25 European or Canadian Bank, that can be used!
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Q and A
Why should a MT103/23
NOT Be An Issue
For A Buyer?
It is true that some sellers will use the buyer's MT103/23 to take down the paper. My question to the buyer is, "So What?"
If the buyer is getting paper at the price he accepts, and then gets the paper, why should he care that the seller is actually being smart and using Other People's Money to make a deal happen?
Buyer's claim they don't want to 'finance' the purchase of the paper that they want, but the truth is they are already financing it within in the price at which the seller will sell.
Again, So What?
The objective for the buyer is to buy the paper. What happens before he gets his paper really isn't his business.
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Compare it to ordering a custom built car from a car dealer.
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The car hasn't been built yet-- but the Buyer is STILL required to make a deposit before the manufacturer builds it.
The car dealership isn't using its money to make the order happen, but he is making a profit on the sale. It's exactly the same business process.
The Bottom Line is: Did you get the paper that you wanted at an acceptable price?
After all, isn't that all that really matters? |
Sender is not a licensed United States Securities Dealer, Broker, US Investment Advisor or Commodities Trader. This electronic transmission and or attached documents are not to be considered a solicitation for any purpose in any form or content, nor an offer to sell and/or buy securities. And is sent so as a request for information.
NOTE: This communication is private, confidential, and between the parties. It is not public disclosure and not a public offering. It contains information which may be proprietary and privileged, and does not constitute a legal agreement, nor is it to be construed as legal advice or consulting. Any review, re-transmission, dissemination or other use thereof, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited.
This material is for information purposes only, and is not a solicitation of funds to buy and/or sell Securities, nor a solicitation to provide financial services. The afore-referenced instruments are not offered for sale herein. We are not the Providers. Bank Instruments are for private sale and do not come within the purview of security laws of any nation.
Protected by copyright laws of the United States and international treaties. This Newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of PCC Funding, PO Box 1222, Olney MD 20830.
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BGMTN.COM:
An Information Service of PCC Funding
News, Views, Opportunities, Opinion.
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Nothing in this communication is to be construed as solicitation or an offer to sell. Due to widespread fraud perpetuated by certain brokers, sellers and buyers, the information contained in this newsletter is provided with the caveat that all Principal parties are warned to beware and verify any items in this newsletter. This newsletter is a compilation of experiences and observations of the writer, and are not intended, nor to be mistaken, for legal or financial advice. Unfortunately, the industry has become fraught with individuals of questionable ethics and behaviors, so each reader must take responsibility for their own due diligence. Should you find a gross inaccuracy in one of the items, it is appreciated if you would let us know so it can be further researched and, if necessary, retracted, corrected, or validated. |
Bank Guarantee Opportunity (GB102109)
Instrument: BANK GUARANTEES (ICC458)
Issuing Bank: Deutsche Bank, HSBC, Credit Suisse, or any Top 25 Western European Banks
Age: Slightly Seasoned
Term: One (1) year and One (1) day
Rating: S&P "AA" rated or better
Currency: Euros
Interest Rate: 0% coupon
Contract Amount: Fifty Billion Euros (EUROS 50,000,000,000.00) with rolls and extensions
Price: 58% plus one percent (1%) of the instrument's face value for Fees and/or Commissions.
First Tranche: Five Hundred Million Euros (EUROS 500,000,000.00)
Subsequent Tranches: As per agreement between buyer and seller
Tranche Frequency: As agreed between buyer and seller.
Denominations: Ten (10), twenty-five (25), fifty (50), and one hundred (100) million Euros (EURO) or as agreed between buyer and seller...
Mode of Payment: Conditional SWIFT MT103, Field 23
Subsequent Purchases: As agreed between buyer and seller.
Delivery: SWIFT MT760, followed by hard copies of instruments to be delivered by Bank Courier within seven (7) banking days.
PROCEDURES
1. Buyer submits the following:
a) Letter of Intent
b) Fee Protection Agreement
c) Client Information Sheet
d) Corporate Resolution (only if the Buyer is a Corporation)
e) Color, Full-Page Image of Passport of signatory.
f) Proof of Funds is required (Bank Commitment Letter or Bank Tear Sheet or Bank Statement or Bank Proof of Funds Letter or some other form of Proof of Funds that is acceptable to the Seller.). The Seller will not accept this LOI without some form of POF.
g) Non-Solicitation Letter
2. Upon verification and satisfactory due diligence, Seller will then communicate directly with the buyer via e-mail to confirm buyer's readiness and return countersigned Letter of Intent (LOI) to Buyer which now becomes MOU between Buyer and Seller. Buyer and Seller will interact with each other directly from this point forward.
3. Within 72 Hours (3 banking days) of receipt of countersigned LOI/MOU, Buyer's bank will send to the Seller's bank Conditional SWIFT MT 103 Field 23.
4. PLEASE NOTE: IF THE CONDITIONAL SWIFT MT 103 FIELD 23 IS NOT RECEIVED BY THE SELLER'S BANK WITHIN 72 HOURS (THREE (3) BANKING DAYS) OF THE SELLER COUNTERSIGNING THE LOI/MOU, THEN THIS AGREEMENT AUTOMATICALLY BECOMES NULL AND VOID.
5. Seller's bank will respond confirming its receipt and acceptance of the Conditional SWIFT MT 103 Field 23 which is to purchase and deliver the Bank Guarantees (BGs) as described above.
6. Buyer must then send a copy of the Conditional SWIFT MT 103 Field 23 immediately to the Seller's e-mail. This copy of swift transmission is mandatory as it confirms the Buyer's transmission sent to Seller's bank.
7. After verification and authentication of the Conditional SWIFT MT 103 Field 23, the Seller will then issue the Corporate Invoice. The Corporate Invoice will include Full particulars of the instrument but not limited to Cusip, ISIN Numbers, Copy of the Instrument, Bond Power and all necessary information required for authentication and validation of the Bank Guarantees (BGs).
8. The Seller will then request the Issuing Bank to DELIVER the Bank Guarantees (BGs) via SWIFT MT 760 to the Buyer's receiving bank.
9. Upon successful receipt, verification and authentication of the SWIFT MT 760, and acceptance of the Bank Guarantees, the Buyer's bank will release the Conditional Field 23 to unconditionally transfer the funds to the Seller's bank within eight (8) banking hours.
10.DVP Settlement Procedures shall follow to settle the invoice. The transaction will be completed or the tranching schedule continued according to the LOI/MOU.
11.The transactions will be continuous according to the agreed upon tranching schedule until the contract is consummated.
RECITALS
THE BUYER MAY NOT CHANGE BANK COORDINATES AFTER THE SIGNING OF THIS MOU. BUT THE BUYER CAN CHANGE BANK COORDINATES WITH WRITTEN NOTICE TO THE SELLER AFTER THE SELLER IS INFORMED ON CHANGING BANK COORDINATES. IF THERE IS NOT SUCH A WRITTEN NOTICE, THIS MOU BECOMES NULL AND VOID.
ANY UNAUTHORIZED BANK CALLS, PROBES OR COMMUNICATIONS, OR AN IMPROPER SOLICITATION OR DISCLOSURE INVOLVING ANY OF THE BANKS CONCERNED IN THIS TRANSACTION WILL RESULT IN IMMEDIATE CANCELLATION OF THIS TRANSACTION AND SUBJECT THE VIOLATING PARTY TO DAMAGES.
COMMISSION
The commission if any shall be paid in accordance with the terms and conditions, which shall become an Annexure of thisAgreement. After each and every successful transactioncompleted this Commissions shall be paid to each paymaster who is responsible for distribution of commissions.
PRIVATE PLACEMENT
The Transaction described herein is for the TRANSACTION of Bank Instruments offered by the Seller to the Buyer, and is to be conducted as a private and confidential transaction between the principal parties. This Transaction constitutes a private placement for the transaction of the instruments specified, is conducted between the parties identified herein, and shall not be interpreted as a securities transaction as interpreted by the laws of any nation
ARBITRATION
The parties agree to settle any dispute arising between them in an amicable manner. In the event of failure to an amicable settlement, the Parties agree to submit any irreconcilable matters to ICC office in Geneva, Switzerland, by three arbitraries appointed in accordance with ICC rules.
NON-CIRCUMVENTION/NON-DISCLOSURE
The parties hereto agree that Non-Circumvention and Non-Disclosure rules as specified by the ICC, the latest edition, shall apply to this Transaction.
Except as required by law or as reasonably required in order to enable and execute the transaction contemplated herein, the parties agree to maintain the confidentiality of all information and data relating to the business of this transaction and each other, including, without limitation, economic, financial and/or personal information, disclosed, directly or indirectly, or disclosed by visual inspection, and shall not disclose such information and data to any third party without the prior written consent of the other party..
ELECTRONIC TRANSMISSION
Electronic transmission of individually initialed or signed pages of this Agreement and/or amendments hereto shall constitute a complete set of documents and shall be accepted as an initialed and signed original document.
GOVERNING LAW
Upon the Seller signing and returning this document to the Buyer, this document shall become a Full Recourse Commercial Contract governed by the laws of the European Union. It is agreed by the principals that where such laws may be in contradiction, the laws of the Swiss Confederation ("SWITZERLAND") shall be used in arbitration.
FORCE MAJEURE
The Force Majeure Exception Clause of ICC Publication No 421 is hereby incorporated in, and made an integral part of, this Agreement. Neither the Buyer nor the Seller shall be held responsible for the actions of third parties not under their direct control.
SEVERABILITY
If any provision of this Agreement, or the application thereof to any person or circumstance, shall for any reason or to any extent be invalid or unenforceable, such invalidity or unenforceability shall not in any manner affect or render invalid or unenforceable the remainder of this Agreement, and the application of that provision to other persons or circumstances shall not be affected but, rather, shall be enforced to the extent permitted by law.
SUCCESSORS
This Agreement shall extend to and be binding upon the heirs, personal representatives, successors, and assigns of the parties hereto.
MODIFICATIONS
It is agreed by and between the parties hereto that only a written instrument signed by all of the parties may modify this Agreement.
WAIVER OF BREACH
The failure of either party to enforce for any time or for any period of time any of the provisions of this Agreement shall not be construed as a waiver of the right of such party thereafter to enforce each and every such provision.
COUNTERPARTS
This Agreement may be executed simultaneously in two or more counterparts, all of which together shall constitute one and the same instrument and when so signed shall be deemed to bear the earliest date written below. It is further understood that fax or email copies of this Agreement shall be declared and considered to be as valid as their originals but the said copies should always be clear and legible.
LANGUAGE AND TRANSLATIONS
This Agreement is written in the English language and shall be deemed an original. The English language text of the Agreement shall prevail over any translation thereof.
WARRANTY OF AUTHORITY
The persons executing and delivering this Agreement on behalf of the parties represent and warrant that each of them is duly authorized to do so and that the execution of this Agreement is the lawful and voluntary act of the parties within their scope.
The Seller hereby attests that the Bank Instruments offered are unencumbered, clean and cleared, of non-criminal origin and will be Irrevocable, Transferable, Unconditional and Confirmed for Payment at maturity by the Issuing Bank.
VALIDITY OF PURCHASE FUNDS
The Buyer hereby attests that the funds used for the transaction of the Bank Instruments are unencumbered, clean and cleared, and are of non-criminal origin.
ENTIRE AGREEMENT
After confirmation by signature of all the undersigned parties this document shall constitute the entire Agreement between the parties. By their signatures below, the parties hereto agree to the general terms and conditions of this Agreement and warrant one to the other their intention to uphold the rights and obligations described herein.
This Agreement shall remain valid and in full force for seven (7) international banking days from the date of issue and if not executed, after such time it shall expire.
The parties agree that if the Buyer does not send the SWIFT MT 103 Field 23 to the Seller's Bank within 72 hours, this agreement automatically becomes NULL and VOID.
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Thank you for reading this. If this newsletter does not apply to your interests or business, please Unsubscribe at the bottom.
If this DOES have value to you, please share it with other reputable people who are principals in the business.
Sincerely,
Michael Weiner, President/CEO
PreConstruction Catalysts, Inc | |
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